Hurwicz, Leonid(hûr`wĭch), 1917–2008, Polish-American economist and statistician, b. Russia., grad. Univ. of Warsaw, 1938. Educated in the law, he subsequently studied economics in London, Geneva, and, after immigrating (1940) to the United States, Chicago and worked as an economics research assistant, but did not obtain a degree in the field. He spent most of his academic career at the Univ. of Minnesota (1951–1988, emeritus after 1988). Hurwicz was a pioneer in the development of mechanism design theory, a branch of game theory (see games, theory ofgames, theory of,
group of mathematical theories first developed by John Von Neumann and Oskar Morgenstern. A game consists of a set of rules governing a competitive situation in which from two to n
..... Click the link for more information. ) that examines what rules provide the incentives that produce the most desirable result and so enables economists and other social scientists to explain how individuals, institutions, and markets interact. For his work on mechanism design, Hurwicz shared the Nobel Memorial Prize in Economic Sciences with Eric MaskinMaskin, Eric Stark,
1950–, American economist, b. New York City, Ph.D. Harvard, 1976. He was on the faculty at the Massachusetts Institute of Technology (1977–84) and Harvard (1985–2000) before joining (2000) the Institute for Advanced Study in Princeton, N.J.
..... Click the link for more information. and Roger MyersonMyerson, Roger Bruce,
1951–, American economist, b. Boston, Mass., Ph.D. Harvard, 1976. He has taught at Northwestern Univ. (1976–2001) and the Univ. of Chicago (2001–).
..... Click the link for more information. in 2007.